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Agricultural Disinfectants Market: Industry Trends, Segmentation, and Size Predictions
Agricultural Disinfectants Global Market Report 2024
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According to The Business Research Company's, The agricultural disinfectants market size has grown strongly in recent years. It will grow from $2.08 billion in 2023 to $2.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to market penetration in emerging economies, research and development initiatives, livestock and poultry industry growth, adoption of best hygiene practices, shift towards sustainable solutions, global pandemic impact.
The agricultural disinfectants market size is expected to see strong growth in the next few years. It will grow to $2.75 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing disease resistance, sustainable and eco-friendly solutions, biosecurity measures, precision agriculture and modern farming practices. Major trends in the forecast period include industry collaboration and education, specialized applications, product innovations, preventive measures in animal farming.
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Market Drivers and Trends:
The growing crop pests are expected to propel the growth of the agricultural disinfectants market going forward. Crop pests refer to organisms that can cause damage to crops, leading to reduced yield and quality. These organisms may include insects, fungi, bacteria, viruses, and nematodes. Agricultural disinfectants are primarily used to control and manage the spread of diseases caused by various pathogens, including bacteria, viruses, and fungi, rather than directly targeting crop pests such as insects or nematodes. For instance, in 2021, according to reports published by the Food and Agriculture Organization, a Canada-based intergovernmental organization, pests cause up to 40% of the world's crop output losses every year. Invasive insects cost the world economy at least $70 billion a year, while plant diseases cost it more than $220 billion annually. Therefore, the growing crop pests are driving the growth of the agricultural disinfectants market.
Product Innovation is a key trend gaining popularity in the agricultural disinfectants market. Recently, the market has witnessed the use of eco-friendly agricultural disinfectants as stabilizers and activators to reduce the harmful effect. Major companies operating in the market are focused on developing advanced and innovative products to strengthen their position in the market. For instance, In March 2021, Boon Industries inc., a US-based innovative bioscience company delivering environmentally safe products, launched BioDox. BioDox is the most effective, adaptable, environmentally friendly, and cost-efficient way to kill and prevent hazardous diseases in every location and process across agricultural operations. It has a patented chlorine dioxide solution that has been shown to fight infections like biofilm, botrytis, powdery mildew, black mold, blue mold, white rot, purple blotch, fusarium basal rot, aspergillus, e. coli, and salmonella.
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Major Key Players of the Market:
Neogen Corporation, The Chemours Company, The Dow Chemical Company, Nufarm Limited, Stepan Company, Zoetis India Limited IT Center, Thymox Technology, Fink Tec GmbH, Quat-Chem Ltd., Ceva Sante Animale Group, Shandong Daming Disinfection Technology Ltd., Sanosil, Chemtex Speciality Limited, The Stockmeier Group, Forie, Shijiazhuang Jiuding Animal Pharmaceutical, Ecolab Inc., Solvay SA, Diversey Holdings Ltd., Lanxess AG, The Clorox Company, The Procter & Gamble Company, The Sherwin-Williams Company, The 3M Company, The Reckitt Benckiser Group plc, The Unilever Group, The Henkel AG & Co. KGaA, The BASF SE, The Akzo Nobel N.V., The DuPont de Nemours Inc.
Agricultural Disinfectants Market 2024 Key Insights:
• The agricultural disinfectants market size is expected to see strong growth in the next few years. It will grow to $2.75 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Rising Demand For Quality Meat
• Boon Industries Inc. Introduces Biodox A Groundbreaking Eco-Friendly Agricultural Disinfectant For Enhanced Disease Prevention And Crop Protection
• North America was the largest region in the agricultural disinfectants market in 2023
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